North Carolina HB 797

[Adam Schneider]

What are everyone's thought on HB 797 in NC (2025), Short Title: Residential Property Wholesaling Protection?

https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H797v2.p...

#NorthCarolina, #NC, #Wholesale, #Wholesaling, #HB797

[Jay Hinrichs]

Quote from @Chris Seveney:

Quote from @Adam Schneider:

What are everyone's thought on HB 797 in NC (2025), Short Title: Residential Property Wholesaling Protection?

https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H797v2.p...

#NorthCarolina, #NC, #Wholesale, #Wholesaling, #HB797

 From what I have read (and I did not read the entire bill) - they are targeting stopping wholesaling and predatory practices of people in default. You need to have a brokers license to wholesale in the state. I am 100% a fan of requiring wholesalers to be licensed.

come June 15th  Oregon in enacted the same requirement  a special license for wholesaling. Along with requiring a bond and insurance like a lender needs just dont need to take a test like a RE agent does.. And some very STRICT disclosures on all public advertising media as well as their written contracts..

In other words full disclosure to buyer and seller.. The way wholesalers work in states with basically no regulation is all white lies.. IE  I am a buyer when in fact they are not they are just looking to assign contracts.. My partner is going to walk the house when in fact its just a buyer etc.. I am a cash buyer when in fact they will only pay cash if they can find another to actually buy it.

the market value is 50k  when in fact its 100k etc etc..

Sweeping the nation.